Banking and Fintech companies are becoming “As a Service” technology companies that rely on Open Source Software (OSS) to deliver and scale digital services customers want — and expect— today. They are also seeing an unprecedented wave of patent litigation by Non-Practicing Entities (NPEs) hitting their industries. To be proactive, reduce their risk of patent threats, and mitigate potential litigation, Banks & Financial Service firms are flocking to OIN, a free member organization that safeguards Open Source technologies. Today, the Bank of Nova Scotia — operating as Scotiabank and a multinational banking and financial services company headquartered in Toronto, Ontario — joins OIN. Scotiabank is one of Canada’s Big Five banks — along with OIN members the Royal Bank of Canada and TD Bank — and the 3rd largest Canadian bank by deposits and market capitalization. Scotiabank — which brands itself as “Canada’s most international bank” from acquisitions in Latin America, the Caribbean, Europe, and parts of Asia — serves more than 25 million customers worldwide, employs approximately 92,000 people, and manages assets of over $1,136 billion (CAD).
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